Dutch and British wholesale gas prices extended their rally on Tuesday afternoon after Finnish authorities said damage to a subsea gas pipeline might have been deliberate and as Middle East violence raised supply concerns.
Repairing a subsea gas pipeline connecting Finland and Estonia that was shut on Sunday due to a suspected leak could take months or more if a puncture is confirmed, Finnish gas system operator Gasgrid said.
LNG is increasingly saturating the global natural gas market. And geopolitics are making it difficult for any country not named China or Russia to strike advantageous pipeline gas supply deals. Could these forces, and others, spell the end of large, trans-national pipeline projects, beginning with the oft-challenged EastMed Pipeline? [Gas in Transition, Volume 2, Issue 2]
Philippines approves Vires Energy’s application for integrated LNG project
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The Department of Energy (DOE) in the Philippines has approved Vires Energy’s (VEC) notice to proceed (NTP) application for the proposed integrated LNG project in the province of Batangas.
The proposal includes the construction of a liquefied natural gas (LNG) storage and regasification terminal project.
Philippines DOE Secretary Alfonso G Cusi said: “The proposed integrated natural gas-fired power plant and LNG storage and regasification terminal project of Vires Energy Corporation will boost the attainment of our vision to develop the Philippines as a LNG hub in the South East Asian region.”
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